Sunny ways

As Trudeau heads to Washington, Trump again muses that ‘NAFTA will have to be terminated’

As he prepares to welcome Prime Minister Justin Trudeau to the White House, U.S. President Donald Trump is musing again about terminating the North American Free Trade Agreement.

July 17, 2017

“I happen to think that NAFTA will have to be terminated if we’re going to make it good. Otherwise, I believe you can’t negotiate a good deal,” Trump told Forbes magazine in an interview published Tuesday.

“(The Trans-Pacific Partnership) would have been a large-scale version of NAFTA. It would have been a disaster. It’s a great honour to have — I consider that a great accomplishment, stopping that. And there are many people that agree with me. I like bilateral deals.”

Trump is scheduled to meet with Trudeau at the White House on Wednesday, the same day the fourth round of NAFTA renegotiation talks will begin in a Washington suburb.

August 24, 2017

Trump has threatened to terminate NAFTA on several numerous occasions, appearing to see such threats as a useful negotiating tactic.

The latest remark was slightly different. In the past, he has usually said he will cancel the agreement if the U.S. cannot secure a good deal. This time, he suggested that a good deal can only be secured after a cancellation.

Canadian officials have brushed off the Trump administration’s previous harsh rhetoric, saying such words are inevitable in any trade negotiation. And Trump has frequently declined to act on his musings about trade and other subjects.

Trump spoke amid growing concern that the negotiations could be headed for failure because of the Trump administration’s positions. The fourth round, scheduled to run Wednesday to Sunday, is seen as a crucial test of the level of U.S. interest in reaching an amended deal. (Source: Toronto Star)

Mr. Mackay’s cartoon shows what happens when immature manic leader of the entitled millennials tries to outplay his fatherly opponent. Lack of respect for seniors wisdom of maturity and elder persuasion at any time eventually gets the results that are duly deserved.

As a member of a 212-year old immigrant family from the U.S. that was asked to leave over concerns of loyalty for the USA, I would venture that Mr. Trudeau and his team have fumbled the ball on the goal-line, mainly because of he and his father’s socialistic communist attitude toward answers for all things.

This is bankrupting Canada and its neighbour’s ability to support and defend it and is deserving of the cards that have been dealt!

Trudeau pledges to work with president-elect Trump

Prime Minister Justin Trudeau has congratulated Donald Trump on his stunning upset election win and is pledging to work with the president-elect, saying the two nations have a common goal in the success of their citizens.

In his first comments Tuesday’s U.S. election, upset, Trudeau looked past the months of divisive debate south of the border and stressed what the two countries have in common.

“The relationship between Canada and the United States is based on shared values and shared hopes and dreams and we will always work well together,” the prime minister said in Ottawa.

June 29, 2016

“We are strong because we listen to each other and we respect each other,” he told students gathered at a We Day event.

“I’m going to work with president-elect Trump’s administration as we move forward in a positive way for not just Canadians and Americans but the whole world,” he said.

It was a theme that was also reflected in Trudeau’s official statement on the election and his comments on social media Wednesday as Ottawa awoke to a new and surprising reality in America.

In a statement, the prime minister said that his government looks forward to working with the U.S. on issues such as trade, investment, and international peace and security.

“The relationship between our two countries serves as a model for the world. Our shared values, deep cultural ties, and strong integrated economies will continue to provide the basis for advancing our strong and prosperous partnership,” Trudeau said in his statement. (Source: Toronto Star)

Canadians, Donald Trump’s candidacy is no reason to panic

Since the 1990s, the U.S. political roller coaster has often confounded Canadians. Many scoffed when the largest country in the world seemed to be paralyzed for months by the oldest scandal in the world — a married man, Bill Clinton, making time with a younger woman, Monica Lewinsky, who wasn’t his wife. Many were dismayed when the eminently prime-ministerial Al Gore lost to the easily mockable George W. Bush in 2000 — especially because Gore won more popular votes than Bush did. Still, nothing compares to the panic and horror Donald Trump’s candidacy has evoked.

Canadian confusion about the American presidential campaign circus makes sense: most Americans are equally disturbed. This campaign has been one of the most surprising and upsetting clashes in decades, and it has only just begun. Remember the too-long Canadian campaign of 78 days? U.S. Election Day, Nov. 8, is still eight months away.

The United States appears hopelessly divided, with the Republican surprise and the Democratic surprise suggesting the country is being pulled in opposite directions. Bernie Sanders may be the American Canadians most love to love: down-to-earth, earnest, substantive, unstylish, collectivist and socialist in a cuddly, non-Stalinist way. Meanwhile, Donald Trump is the type of American Canadians most love to hate: arrogant, flamboyant, egotistical, jingoistic and demagogic, playing personality politics.

A president Donald Trump meeting Prime Minister Justin Trudeau would be even more awkward than Ronald Reagan meeting Pierre Trudeau. When they met in 1981, Reagan wore a suitably statesmanlike dark suit with a conservative striped tie, while Trudeau, looking more Floridian than Washingtonian, wore an open-necked shirt with a tan sports jacket, while sporting a dandyish red rose. (Continued: Montreal Gazette)

Ontario’s budget deficit for 2016 shrinks

Ontario Finance Minister Charles Sousa announced Thursday that the province’s budget deficit has shrunk more than expected and that the Liberals are on pace to return to a balanced budget by 2017-18, even as net debt is set to increase in that timeframe.

Sousa said that the deficit is now down from the $7.5 billion projected at the end of last year to $5.7 billion, as stronger economic growth in Ontario boosted government revenues. The budget forecasts that Ontario’s economy grew 2.5 per cent in 2015, a much stronger level than the 1.2 per cent forecast for the national economy.

But net debt will go up as the government continues to borrow to fund projects, including a massive $160 billion infrastructure project over the next 12 years. Net debt is set to increase to $326.8 billion in 2018-19, from $296.1 billion in 2015-16, even as the Liberals are set to have a balanced budget by then.

The projection that Ontario’s debt will continue to rise and that debt-to-GDP will continue to hover near 40 per cent in the medium-term will not thrill debt rating agencies. Standard & Poor’s downgraded the province’s debt last year, while others such as Moody’s Investors Service have placed a negative outlook on provincial bonds.

Ontario’s deficit will also be helped by $1.1 billion gained from the sale of Hydro One, as well as growing cash injections from the federal government, which will hit $24.6-billion this year and rise to $26.6-billion by 2018.

Sousa dismissed the idea of further debt downgrades, however, saying a declining debt-to-GDP ratio would be welcomed.

“I believe credit agencies are going to look at this budget and realize that we’re achieving what we said we’re going to do,” he said during a news conference.

The government has said it has a target of reducing net debt-to-GDP to its pre-recession level of 27 per cent, though it gets no where close to that level in its projected forecast, with net debt-to-GDP hitting 38.5 in 2018-2019. The ratio is expected to peak at 39.6 per cent in 2015-16, remain level in 2016-17 and only begin to decline in 2017-18.

The government is projecting that total revenue in 2015-16 will be $2.2 billion higher than the 2015 budget had factored in, due to “higher asset optimization” and more tax revenue as a result of a stronger Ontario economy. (Source: Financial Post)